When Is The Best Time To Walk On A Real Estate Wholesale Deal?

Real estate wholesaling is all about finding motivated sellers and finding cash buyers and bring the two together in perfect harmony to get you a sweet assignment fee. The only problem is that every property you get is not going to sell. You may get one that you think is a sure winner and turns out to be a straight dud.

Walking away from a deal may seem hard but think about it; do you want to possibly lose a thousand dollars? This is what can happen on an REO flip if you don’t walk away at the right time.

With a private seller, you can risk damaging your image and making a bad name for yourself if this happens often. Best thing I can tell you is get a very good real estate education so you know how to communicate with sellers efficiently.

Best time to walk away from a deal is if you send it out and don’t get any bites from your buyers. On an REO property, you generally have a 7 – 14 day inspection period. If you can’t get somebody in to see this property and get a deposit in before the inspection period ends, it’s a good sign that you need to walk. Either you contracted the property too high or it’s not in a good neighborhood.

Dealing with private sellers is a little different. You can go back to them and renegotiate the price. This way you can market it to your buyers at a lower price. The contract for a wholesale deal with a private seller allows you to have a 30 day inspection period which gives you time to find a buyer.

No buyer, no deal, time to walk. Simple as that

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